New Issue: BMO prices $1 million barrier enhanced return notes linked to S&P, Dow

By Kiku Steinfeld

Chicago, Nov. 28 – Bank of Montreal priced $1 million of 0% barrier enhanced return notes due March 29, 2030 linked to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser-performing index return is positive, the payout at maturity will be par plus 172% of the return. Investors will receive par if the lesser-performing index declines by 10% or less and will lose 1% for every 1% that the lesser-performing index declines from its initial level if it declines by more than 10%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$1 million
Maturity:	March 29, 2030
Coupon:	0%
Price:	Par
Payout at maturity:	If each index return is positive, par plus 172% of lesser-performing index return; par if index declines by 10% or less; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
Initial levels:	4,543.06 for S&P, 34,861.24 for Dow
Barrier levels:	4,088.75 for S&P, 31,375.12 for Dow; 90% of initial levels
Pricing date:	March 25, 2022
Settlement date:	March 30, 2022
Selling agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06368GNN3

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